On January 1, 2019, we adopted ASC 842 using the modified retrospective approach. Therefore, the comparative information for periods ended prior to January 1, 2019 was not restated. Leases with an initial term of 12 months or less are considered short-term and are not recorded on the balance sheet. We recognize lease expense for these short-term leases on a straight-line basis over the lease term. With the exception of two finance leases related to a network server and office equipment, all of our leases are classified as operating leases. We maintain lease agreements principally for our office spaces and certain equipment. In addition, certain of our contracts, such as those with our fulfillment vendor related to our warehouse space or contracts with certain equipment vendors, contain embedded leases. We maintain three sublease agreements with respect to two of our office locations, each of which continues through the initial term of our master lease agreement. Such sublease income and payments, while they reduce our rent expense, are not considered in the value of the right-of-use asset or lease liability. In the aggregate, our leases generally have remaining lease terms of one to six years, some of which include options to extend the lease for additional periods. Such extension options were not considered in the value of the right-of-use asset or lease liability because it is not probable that we will exercise the options to extend. If applicable, allocations among lease and non-lease components would be achieved using relative standalone selling prices.

Upon adoption of ASC 842, we determined our estimated discount rate for existing leases as of January 1, 2019 based on the incremental borrowing rate that most closely aligned with the remaining lease term and payment schedule, as provided by our financial institution. The discount rates for leases entered into after January 1, 2019 were determined based on similarly secured borrowings available to us as of lease inception. The discount rate for leases in the Nutrition segment was estimated as of the Closing date of the Merger.

The following table shows the right-of-use assets and lease liabilities recorded on the balance sheet:

	December 31, 2019
(In thousands)
Right-of-use assets:
Operating	$	41,518
Finance		1,680
Total leased assets	$	43,198

Lease liabilities:
Current
Operating	$	13,131
Finance		624
Non-current
Operating	$	30,321
Finance		1,080
Total lease liabilities	$	45,156

	Year Ended December 31,
(In thousands)	2019
Finance lease cost:
Amortization of leased assets	$	298
Interest of lease liabilities		51
Operating lease cost		14,217
Short-term lease cost		428
Total lease cost before subleases	$	14,994
Sublease income		(5,479	)
Total lease cost, net	$	9,515

The following provides information related to the lease term and discount rate as of December 31, 2019:

Weighted Average Remaining Lease Term (years)
Operating leases	3.3
Finance leases	2.6

Weighted Average Discount Rate
Operating leases	5.5	%
Finance leases	5.8	%

As of December 31, 2019, maturities of lease liabilities for each of the next five years and thereafter were as follows:

	Operating Leases								Financing
(In thousands)	Lease Payments			Sublease Receipts			Net		Leases
2020	$	15,169		$	(5,767	)	$	9,402	$	708
2021		14,731			(5,699	)		9,032		708
2022		12,738			(5,732	)		7,006		421
2023		3,372			(957	)		2,415		—
2024		1,435			—			1,435		—
2025 and thereafter		29			—			29		—
Total lease payments		47,474		$	(18,155	)	$	29,319		1,837
Less: interest		(4,022	)							(133	)
Present value of lease liabilities	$	43,452							$	1,704

	Year Ended December 31,
(In thousands)	2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow attributable to operating leases	$	(9,978	)
Operating cash flow attributable to finance leases		(51	)
Financing cash flow attributable to finance leases		(274	)

Supplemental noncash information:
Right-of-use assets obtained in exchange for operating lease liabilities ⁽¹⁾		53,683
Right-of-use assets obtained in exchange for finance lease liabilities ⁽²⁾		1,978

As of December 31, 2018, future minimum lease payments, net of total cash receipts from subleases of $23.7 million, under all non-cancelable operating leases for each of the next five years and thereafter were as follows. As of December 31, 2018, future minimum lease payments under capital leases were not material.

(In thousands)	Operating
Year ending December 31,	Leases
2019	$	4,022
2020		2,040
2021		910
2022		827
2023		136
2024 and thereafter		—
Total minimum lease payments	$	7,935